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Stocks · Consumer discretionary · Motor Vehicles & Passenger Car Bodies

NIO Inc.

NIO Clue Score54
Cayman Islands Fiscal year ends December CIK 0001736541
$3.58 +4.99% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $3.58 −89.96% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Sep 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.00Operating income−2.60Net income−2.57Fiscal year 2017Revenue0.00Operating income−4.95Net income−5.02Fiscal year 2018Revenue4.95Operating income−9.60Net income−9.64Fiscal year 2019Revenue7.82 +58.0%Operating income−11.08Net income−11.30EPS, diluted−11.08Fiscal year 2020Revenue16.26 +107.8%Operating income−4.61Net income−5.30EPS, diluted−4.74Fiscal year 2021Revenue36.14 +122.3%Operating income−4.50Net income−4.02EPS, diluted−6.72Fiscal year 2022Revenue49.27 +36.3%Operating income−15.64Net income−14.44EPS, diluted−8.89Fiscal year 2023Revenue55.62 +12.9%Operating income−22.66Net income−20.72EPS, diluted−12.44Fiscal year 2024Revenue65.73 +18.2%Operating income−21.87Net income−22.40EPS, diluted−11.03Fiscal year 2025Revenue87.49 +33.1%Operating income−14.04Net income−14.94EPS, diluted−6.85
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.00 0.00 4.95 7.82 16.26 36.14 49.27 55.62 65.73 87.49
Growth +58.0% +107.8% +122.3% +36.3% +12.9% +18.2% +33.1%
Operating income −2.60 −4.95 −9.60 −11.08 −4.61 −4.50 −15.64 −22.66 −21.87 −14.04
Net income −2.57 −5.02 −9.64 −11.30 −5.30 −4.02 −14.44 −20.72 −22.40 −14.94
Growth
EPS, diluted n/a n/a n/a −11.08 −4.74 −6.72 −8.89 −12.44 −11.03 −6.85
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Fiscal year 2018Gross margin−5.2%Operating margin−193.8%Net margin−194.7%Free cash flow margin−213.2%Fiscal year 2019Gross margin−15.3%Operating margin−141.6%Net margin−144.4%Free cash flow margin−133.3%Fiscal year 2020Gross margin11.5%Operating margin−28.3%Net margin−32.6%Free cash flow margin5.1%Fiscal year 2021Gross margin18.9%Operating margin−12.4%Net margin−11.1%Free cash flow margin−5.8%Fiscal year 2022Gross margin10.4%Operating margin−31.7%Net margin−29.3%Free cash flow margin−22.0%Fiscal year 2023Gross margin5.5%Operating margin−40.7%Net margin−37.3%Free cash flow margin−28.3%Fiscal year 2024Gross margin9.9%Operating margin−33.3%Net margin−34.1%Free cash flow margin−25.8%Fiscal year 2025Gross margin13.6%Operating margin−16.0%Net margin−17.1%Free cash flow margin−3.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a −5.2% −15.3% 11.5% 18.9% 10.4% 5.5% 9.9% 13.6%
Operating margin n/a n/a −193.8% −141.6% −28.3% −12.4% −31.7% −40.7% −33.3% −16.0%
Net margin n/a n/a −194.7% −144.4% −32.6% −11.1% −29.3% −37.3% −34.1% −17.1%
Free cash flow margin n/a n/a −213.2% −133.3% 5.1% −5.8% −22.0% −28.3% −25.8% −3.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−2.20Fiscal year 2017Operating cash flow−4.57Capital expenditure−1.11Free cash flow−5.69Fiscal year 2018Operating cash flow−7.91Capital expenditure−2.64Free cash flow−10.56Buybacks−0.01Fiscal year 2019Operating cash flow−8.72Capital expenditure−1.71Free cash flow−10.43Fiscal year 2020Operating cash flow1.95Capital expenditure−1.13Free cash flow0.82Fiscal year 2021Operating cash flow1.97Capital expenditure−4.08Free cash flow−2.11 −356.6%Fiscal year 2022Operating cash flow−3.87Capital expenditure−6.97Free cash flow−10.84Fiscal year 2023Operating cash flow−1.38Capital expenditure−14.34Free cash flow−15.72Fiscal year 2024Operating cash flow−7.85Capital expenditure−9.14Free cash flow−16.99Fiscal year 2025Operating cash flow2.99Capital expenditure−6.07Free cash flow−3.07
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −2.20 −4.57 −7.91 −8.72 1.95 1.97 −3.87 −1.38 −7.85 2.99
Capital expenditure n/a −1.11 −2.64 −1.71 −1.13 −4.08 −6.97 −14.34 −9.14 −6.07
Free cash flow n/a −5.69 −10.56 −10.43 0.82 −2.11 −10.84 −15.72 −16.99 −3.07
Growth −356.6%
Buybacks n/a n/a −0.01 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.60Shareholders’ equity−3.92Fiscal year 2017Cash7.51Total debt0.64Net cash (debt)6.86Shareholders’ equity−11.60Fiscal year 2018Cash3.13Total debt1.37Net cash (debt)1.77Shareholders’ equity6.84Debt to equity0.20Fiscal year 2019Cash0.86Total debt7.48Net cash (debt)−6.61Shareholders’ equity−6.30Fiscal year 2020Cash38.43Total debt6.32Net cash (debt)32.11Shareholders’ equity27.17Debt to equity0.23Fiscal year 2021Cash15.33Total debt11.81Net cash (debt)3.53Shareholders’ equity34.71Debt to equity0.34Fiscal year 2022Cash19.89Total debt12.12Net cash (debt)7.76Shareholders’ equity23.87Debt to equity0.51Fiscal year 2023Cash32.94Total debt17.78Net cash (debt)15.16Shareholders’ equity25.55Debt to equity0.70Fiscal year 2024Cash19.33Total debt14.84Net cash (debt)4.49Shareholders’ equity5.97Debt to equity2.49Fiscal year 2025Cash11.27Total debt9.28Net cash (debt)1.99Shareholders’ equity4.16Debt to equity2.23
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.60 7.51 3.13 0.86 38.43 15.33 19.89 32.94 19.33 11.27
Total debt n/a 0.64 1.37 7.48 6.32 11.81 12.12 17.78 14.84 9.28
Net cash (debt) n/a 6.86 1.77 −6.61 32.11 3.53 7.76 15.16 4.49 1.99
Shareholders’ equity −3.92 −11.60 6.84 −6.30 27.17 34.71 23.87 25.55 5.97 4.16
Debt to equity n/a n/a 0.20 n/a 0.23 0.34 0.51 0.70 2.49 2.23

In billions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of CNY, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.00 0.00 4.95 7.82 16.26 36.14 49.27 55.62 65.73 87.49
Growth +58.0% +107.8% +122.3% +36.3% +12.9% +18.2% +33.1%
n/a n/a 5.21 9.02 14.38 29.31 44.12 52.57 59.24 75.57
n/a n/a −0.26 −1.20 1.87 6.82 5.14 3.05 6.49 11.92
Growth +264.1% −24.6% −40.7% +112.8% +83.5%
1.47 2.60 4.00 4.43 2.49 4.59 10.84 13.43 13.04 10.60
1.14 2.35 5.34 5.45 3.93 6.88 10.54 12.88 15.74 16.09
−2.60 −4.95 −9.60 −11.08 −4.61 −4.50 −15.64 −22.66 −21.87 −14.04
Growth
−2.57 −5.01 −9.62 −11.29 −5.30 −3.97 −14.38 −20.46 −22.42 −14.82
0.00 0.01 0.02 0.01 0.01 0.04 0.06 0.26 −0.02 0.12
−2.57 −5.02 −9.64 −11.30 −5.30 −4.02 −14.44 −20.72 −22.40 −14.94
Growth
Per share
n/a n/a n/a −11.08 −4.74 −6.72 −8.89 −12.44 −11.03 −6.85
n/a n/a n/a −11.08 −4.74 −6.72 −8.89 −12.44 −11.03 −6.85
Growth
n/a n/a n/a 1,030 1,183 1,573 1,637 1,700 2,055 2,273
n/a n/a n/a 1,030 1,183 1,573 1,637 1,700 2,055 2,273
Growth +14.8% +33.0% +4.1% +3.9% +20.8% +10.6%

Shown in CNY as filed; the screener converts to dollars.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 40.0% a year over five years.
  • The diluted share count rose 92.2% in five years, which is dilution.
  • Operating margin is up 12.3 points on five years ago, at -16.0%.
  • A net loss in 10 of 10 years on file.